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Syndicate 1947 is gearing up to expand its marine reinsurance portfolio. -
The Cathal Carr-led carrier has been building its team since launching this year.
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The changes affect operations in Switzerland, Bermuda and the US.
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Phil Furlong has been made head of underwriting and oversight, a newly created role.
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The broker is launching a reinsurance arm in partnership with Bain Capital.
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TMK formed its specialty reinsurance unit last year.
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Competition is high in specialty reinsurance as new capacity enters the market.
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Specialty reinsurance has experienced high competition for talent.
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The only major product line to see rate increases was casualty.
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The combined business volume of the two firms is CHF20.1bn.
